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Canaccord Genuity Group Inc. Announces a Proposed Offer Made to and Rejected by The RF Capital Board to Acquire 100% of the Outstanding Shares of RF Capital Group Inc.
Canaccord Genuity Group Inc. Announces a Proposed Offer Made to and Rejected by The RF Ca...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n Canaccord Genuity Group Inc. Announces a Proposed Offer Made to and Rejected by The RF Capital Board to Acquire 100% of the Outstanding Shares of RF Capital Group Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n If completed, the proposed business combination would form the preeminent independent wealth management business in\n \n Canada\n \n and provide superior value for RF Capital minority shareholders and Richardson Wealth Investment Advisors\n \n \n \n \n TORONTO\n \n ,\n \n March 15, 2021\n \n /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (\"Canaccord Genuity\" or the \"Company\") announced today that on\n \n March 9, 2021\n \n it submitted a letter to the board of directors of RF Capital Group Inc. (TSX: RCG) (\"RF Capital\") in which Canaccord Genuity proposed to purchase 100% of the outstanding shares of RF Capital for\n \n $2.30\n \n per share (the \"Proposal\") for cash or Canaccord Genuity common shares. The Proposal represented a 31% premium to the closing price of RF Capital common shares on\n \n March 12, 2021\n \n and a 30% premium to the volume-weighted average price for the 20 trading days ended on that date. The proposed price of\n \n $2.30\n \n per common share is supported by the formal valuation commissioned by the special committee of RF Capital's board of directors in connection with the recently completed transaction (the \"RGMP Transaction\") between RF Capital and Richardson GMP Limited (\"Richardson Wealth\"). The rationale behind the Propo...